20 April 2009
The Directorate of Special Operations (Scorpions) today managed to fit
another piece of the Fidentia puzzle, when Steven William Goodwin was sentenced
to a total of 50 years imprisonment on 36 counts involving fraud, corruption
and money laundering.
Goodwin, appeared in the Cape High Court before Acting Judge President, J
Traverso, and pleaded guilty in a plea and sentence agreement.
The charges involved Goodwinâs participation together with that of J Arthur
Brown and others in the misappropriation of approximately R200 million
Transport Education and Training Authority (TETA) investment funds, corrupt
payments of approximately R4,6 million to the former TETA CEO Pieter Bothma,
and the money laundering of approximately R 90 million through his entities
Worthytrade and Intabrand.
The Scorpions team (prosecutors and investigators) are pleased with the
progress made so far in this investigation. Goodwin, who previously left for
Australia and was subsequently arrested in Los Angeles, initially opposed his
extradition but then agreed to give his full co-operation in the investigation
and plea guilty to the aforesaid charges.
Goodwin played an instrumental role during 2003 in having the TETA
investments at PLJ reinvested and transferred to Fidentia Asset Management and
/ or Maddock Inc, Goodwin was a party to the corruption of Dr Piet Bothma, the
CEO of TETA. He paid Bothma approximately R4,6 million for securing the above
TETA investment for the Fidentia Group.
Goodwin laundered approximately R90 million of investor funds.
Goodwin will serve a minimum of 10 years. The sentences are structured as
follows:
* one count of fraud: 20 years imprisonment of which 10 years is suspended on
certain conditions. These conditions include that he fully discloses
information and assist the state in the investigation and prosecution of the
case.
* two counts of corruption: 15 years imprisonment of which five years is
suspension.
* 33 counts of money laundering: 15 years imprisonment of which seven years is
suspension.
All the sentences will run concurrently.
Enquiries:
NPA Spokesperson
Tlali Tlali
Cell: 082 333 3880
Issued by: National Prosecuting Authority
20 April 2009
